By Gabby Chen

(JW Insights) Apr 27 -- Alibaba Cloud, the cloud computing unit of Chinese tech giant Alibaba, is to reduce prices for core products by 15% to 50% and storage products by a maximum of 50%, marking the biggest price cut in its history, the company announced on April 26.

The price adjustment will take effect on May 7. Alibaba Cloud hopes that this move will expand its user base and public cloud scale and increase the market penetration rate of cloud computing.

Zhang Yong, CEO of Alibaba Cloud, said the price reduction is aimed at making computing power more affordable, returning more technology dividends to customers and partners, and expanding the market space of cloud computing. He revealed that the company has reduced computing costs per unit by 80% and storage costs by nearly 90% over the past decade.

The discounts apply to several services and products, such as elastic compute service (ECS), object storage service (OSS), server load balancing (SLB), network address translation (NAT) gateway, relational database service (RDS), video cloud, content delivery network (CDN), and web application firewall (WAF), according to Alibaba Cloud's website.